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A Bank is an organization that provides banking services like bank accounts, credit cards, loans etc. to the customers.

Whereas, an Insurance Company provides Insurance. The main difference between a bank and an insurance company is the fact that it is not a bank. It provides insurance services to the citizens of India and it does not provide services like bank accounts, credit cards etc. to customers

Insurance indemnifies you if you suffer an insurable loss meaning that your asset is replaced or you are compensated to replace your asset with the basic objective of putting …you back to the same financial position that you were in before you incurred the loss/damage. For example you buy insurance for your car, house, computer, etc. Assurance on the other hand aims to provide financial compensation when you suffer a loss that cannot be indemnified, that is, loss of life. For example if your spouse dies they cannot be replaced so you just get monetary compensation for your loss, which unlike in insurance, you cannot use to replace them as you would your lost laptop for instance.

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Luke Brown

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In my prior life, I practiced insurance and trial law, taught insurance and civil trial law, and consulted for a major publisher on the development of insurance books and online products. A brain tumor required me to stop practicing, but I have a store of knowledge that I wish to share.

The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a cover…ed loss. That which is covered by the policy is set forth in the insurance policy.

The terms "insured" and "assured" are generally used interchangeably; but strictly speaking, the term "insured" refers to the owner of the property insured or the person whose… life is the subject of the contract of insurance, while "assured" refers to the person for whose benefit the insurance is granted. For ex: A wife insures the life of her husband for her own benefit. The wife is the assured, and the husband the insured. The wife is the owner of the policy but she is not the insured. In property insurance, like fire insurance, the insure is also the assured where the proceeds are payable to him. Assured is also used sometimes as a synonym of "beneficiary." The beneficiary is the person designated by the terms of the policy as the one to receive the proceeds of the insurance. He is the third party in a contract of life insurance, whose benefit the policy is issued and to whom the loss is payable.

The goal of insurance is to put you in the same financial position you were in before the loss. The goal of gambling, is to come out ahead In insurance you either suffer the l…oss or maintain the status quo, one can never earn profit in insurance But in gambling there is a possibility of both loss as well as profit.

Banks are incorporated under banking companies act but while as NBFC are incorporated under company act of 1956....Banks can issue cheques on its name but while as NBFC cannot… do so.....Banks can accept deposit from general public contrary Nbfc cannot do the same.

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Insurance Plus ® A Texas Based Independent General Insurance Agency with 50 plus years combined experience in the Property and Casualty field. This includes Liability, Personal and Commercial, Auto, Property, Professional and Malpractice lines as well as Active War Zone operational risks. We are licensed in multiple U.S. states. We provide access to Standard and Non-Standard as well as International Insurance Markets.

A savings institution typically refers to either a Savings and Loan or a Savings Bank. Both Savings Banks and Savings and Loans are thrifts, whose primary federal regulator wi…ll be the OTS (Office of Thrift Supervision). In addition, any insured institution would be additionally regulated by the FDIC. Most, if not all states now require, by state law, that any institution operating as either a bank or a thrift be covered by FDIC insurance. Ohio is an example of such a state. The main difference between thrifts and banks is their primary purpose. Thrifts typically have been focused on residential lending and promoting "home ownership." To qualify as a thrift, an institution must maintain a large concentration of lending in loans secured by residential real estate. Banks, in contrast, are generally more focused in commercial lending to help finance business and other ventures. Banks are also more involved in unsecured lending or lending which is secured by items other than real estate (i.e. Inventory Loans or Credit Cards). Though, historically, there was a difference in the types of products that banks and savings and loans could offer to the public, many of these differences have been modified over the years to the point that most services, at least conceptually, can be offered by either a bank or a thrift. Banks and thrifts, however, remain under the supervision of different regulatory bodies. "Government" FDIC insurance covers money in your savings, checking, or money market checking account for the amount of up to $100,000. The FDIC is technically not part of the governmental system, but one of those long arm beaureacratic long legs. Deposit insurance coverage is based on a variety of factors including how an account is titled and the type of account. For instance, retirement accounts held in an IRA are insured for a greater value than a non-retirement deposit account. Additionally, by altering the ownership of an account, it is possible for individual or multiple depositors to have coverage beyond $100,000. Finally, it should be noted that insurance is calculated "per depositor" and not "per account." Therefore, a depositor may risk having uninsured deposits if the total amount deposited at a given institution is above the threshold amount.

Assurance and Insurance 1. In financial discourse, the following hold: In English, it is customary to refer to Assurances as protection against the finan…cial loss arising from life contingencies. Examples: life assurance, health assurance, and disability assurance. The financial institutions of established reputation that issue such assurance policies are known as Life Offices. Indemnity on loss of, or damage to, property is ordinarily referred to as insurance. Examples: fire insurance, motor insurance, and commercial or personal liability insurance. The institutions issuing such insurances are normally known as Insurance Offices, also of established reputation. In American, no distinction is ordinarily made between assurances and insurances, and all are known as insurance, issued by insurance companies, which, in desirable conditions, are also held in high esteem and trust. 2. In moral discourse, the following hold: An assurance is some sign - perhaps someone's word - evidencing that something will, or will not, happen. Insurance is some form of protection against the cost or damage done, in case an un-wanted event should happen. Example: A strong air force, well provided with all the necessary tools and equipment, is a very blessed insurance, cheaply bought, in case the wretched Dictator should determine to send his terrific flying machines over our Island. To speak of assurance, in the above example, would be to speak of our ways of knowing that the maurauders will never come. 3. In psychology, 'assurance' is often equated with confidence, in a broad sense.

insurance and banking function on two completely different levels. Put simply, banking is a dependable and constant institution where, for the most part, consumers know what t…hey're getting. Insurance, on the other hand, is based on a number of subjective variables that makes it a different experience for each separate individual. Banking is different in the fundamental sense that they serve all their customers the same based on their finances and not their lifestyle or any other factors that go into applying for insurance.

Finance is generally related to all types of financial, this could be accounting, insurances, policies. Whereas banking is everything that happens in a bank only. The …term Banking and Finance are two very different terms but are often associated together. These two terms are often used to denote services that a bank and other financial institutions provide to its customers. Banking and finance is also referred to as a term of managing your money by investing it in either banks or other financial institutions. It is very important that you invest your money in case it is sitting idle. By investing your money, you have a high chance of making a profit on that money and you would be doing the country proud by investing as that money will be used for the betterment of the country and it will be returned to you after a fixed period of time along with the interest whenever you set the time limit.

Insurance covers the direct exposure to the insured. Re-insurance covers insurance companies against the aggregated loss. Earthquake insurance is a good example. You might hav…e EQ insurance on your home or commercial building. If you have a loss your insurance pays your claim. That insurance company that insures you might have re-insurance with a bigger insurer if total claims exceed a very large number. Lloyd's of London and Swiss Re are big re-insurers.

Insurance is a service one can purchase for the purpose of guarding against damage, theft or any kind of loss of property or health. Investing is the practice of providing mon…ey to a third party in exchange for the return of that money (or equal value asset) with some level of profit on the original value.

accounting just means that for every penny spent there has to be an offsetting entry eg: I have $50.00 to start with, I came home with $8.50 this means that I have spent $41.5…0 I now have to "account" for the money I spent, so I will show you my receipts;;; $30.00 for groceries and $11.50 at the drugstore. this is "accounting" Banking just means to go to a Bank and either deposit money into your account or withdrawing it.

A proposer puts something forth for consideration, discussion, or adoption. An insurer is a person or company that underwrites insurance risk. They are the party tha…t pays the compensation in an insurance contract.